The Minnesota Timberwolves and Lynx will remain (for the most part) owned by Glen Taylor. Thursday morning, the organization announced that the 90-day period allocated to Marc Lore and Alex Rodriguez has expired.
Marc Lore and Alex Rodriguez have admitted their disappointment with Glen Taylor’s announcement today. Both men cite having respected “the team’s requests and obligations in the purchasing process.” The team’s purchasing procedure began in 2021 according to the network ESPN. Although the potential buyers claim to have raised the funds necessary to purchase the Timberwolves and Lynx, Taylor would argue at all costs that the requests were not respected.
Adrian Wojnarowski d’ESPN also reports that the relationship between Taylor’s group and the Rodriguez-Lore duo has reportedly disintegrated over the past two years. The buyers group’s spokesperson said the failure would result in an “unfortunate case of seller’s remorse. »
In 2021, the two camps agreed that Alex Rodriguez and Marc Lore would pay a total amount of 1.5 billion US dollars, in addition to guaranteeing the two buyers control of the two clubs.
The network The Athletic stipulates for its part that the outcome will emerge following an arbitration session. Last December, the agreement stipulated that the partners would have ended up with 80% of the shares of the Timberwolves and the Minnesota Lynx.
It remains to be seen whether the continuation of the Taylor Sports group at the helm of the Timberwolves will translate into success. Before this season, which will almost certainly see the Timberwolves in the playoff picture, the Minnesota club has only two spring tournament series wins in 30 seasons under Glen Taylor.
But in addition, the governor will have the task of managing the financial books of the Timberwolves, who awarded a new two-year, $20.8 million contract to veteran point guard Mike Conley. The bank is expected to jump in 2024-25, as stars Anthony Edwards and Karl-Anthony Towns enter the first year of a new deal, which will see them paid $35 million and $49 million respectively.
Taylor said he wanted to continue working with Marc Lore and the former New York Yankees star to ensure the highest standards are maintained within the organizations, both on and off the floor.
Emilio Constanza
2024-03-29 08:47:34
#Timberwolves #longer #sale
